Thursday, June 20, 2024 2:39:08 AM - Markets open
VN-INDEX 1,279.79 +0.29/+0.02%
HNX-INDEX 243.57 -0.86/-0.35%
UPCOM-INDEX 98.36 +0.05/+0.05%
US to crack down on illegal shrimp imports
Vietnam News - 6/5/2018 9:52:20 AM
 (0 ratings. You must sign in to rate.)
The US National Oceanic Atmospheric Administration (NOAA) has confirmed that foreign shrimp and abalone will be added to the Seafood Import Monitoring Program (SIMP) beginning on January 1, 2019.
 
The SIMP requires importers to report traceability information on imported seafood from point of capture to point of first sale in the US in order to thwart illegal, unreported and unregulated (IUU) fishing activity. 
 
Accordingly, American shrimp importers have until December 31, 2018 to comply with the regulations under the SIMP programme.
 
Specifically, shrimp importers must be US citizens. They are required to obtain an International Fisheries Trade Permit, submit harvest and landing information on those products to the USA Customs and Border Protection International Trade Data System prior to entering the USA and maintain supply chain records from the point of harvest to the point of entry into the USA for a period of two years.
 
The SIMP also allows NOAA and related agencies to check mandatory supply chain information provided by importers.
 
This will strengthen US government efforts to combat IUU fishing and a range of fraudulent activities in the shrimp import chain attributed to dishonest importers who violate US consumer safety laws and trade.
 
Shrimp imports may involve a range of illegal activities, including illegal IUU fishing; use of dangerous and illegal antibiotics in farms abroad; employing slave labor on international fishing vessels, shrimp farms and processing plants; evasion of US anti-dumping duties and noncompliance with Food and Drug Administration (FDA) food safety laws.
 
Việt Nam’s shrimp exports to the US in the coming time are expected to face many challenges.
 
Last year, the US market dropped to the fourth among the top leading buyers of Vietnamese shrimp, accounting for only 17 per cent of Việt Nam’s total shrimp exports.
 
According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), in 2018, Việt Nam’s shrimp exports to the US are showing more positive signs. In the first two months of 2018, shrimp exports to the US reached US$75 million, up 6.6 per cent over the same period in 2017. The US had risen to the second rank behind the EU among top importers of Vietnamese shrimp. — VNS
 
Read original article here
Newer News
15/06 China’s Guangxi province eyes to expand economic cooperation with Việt Nam
15/06 Quảng Ninh posts fourth fastest growth in Red River Delta
10/06 Policy on business registration to be revised
10/06 State budget revenues from import-export grow 7.4% in five months
10/06 Canada imposes temporary anti-dumping duties on wire products from Việt Nam
05/06 Việt Nam's State budget collection up nearly 15 per cent in five months
05/06 Businesses pivot to neighbouring markets due to uncertainties elsewhere
05/06 Việt Nam leads the region in attracting long-term investment into innovative start-ups
27/05 MoIT to step up talks on new FTAs
25/05 Criteria for assessing FDI announced
Older News
05/06 Vietnamese garment firms expect to navigate Australia
05/06 May industrial production index expands by 7.1 percent
04/06 PM: No more power price hike this year
04/06 Demand for organic fertiliser rises
04/06 PM asks for measures to curb inflation below 4 pct this year
01/06 Aquatic exports rise by 10 percent in five months
31/05 CPI increases 0.55 percent in May
30/05 Tra fish export to US increases despite anti-dumping measures
30/05 Deputy PM: CPI growth could be kept below 4 percent in 2018
29/05 Building materials market maintains stability
 
Newsletter Signup
Top Stories
Surge in newly opened securities accounts recorded in May
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,279.79 +0.29/+0.02%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.